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Aurobindo Pharma invests in solar power generating companies

Capital Market 

To avail benefit of captive consumption of solar power

Aurobindo Pharma has entered into binding agreements to invest Rs.5.382 crores each in NVNR (Ramannapet I) Power Plant and NVNR (Ramannapet II) Power Plant , Hyderabad based solar power generating companies, aggregating to Rs. 10.764 crores by subscribing to additional equity shares and/or other securities of the said solar power generating companies to avail the benefit of captive consumption of Solar Power.

After making the said investments, the Company will be holding 26% of the share capital in each of the aforesaid solar power generating companies.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, February 23 2021. 18:13 IST